Canary Capital CEO Steven McClurg has suggested that BlackRock could file for a spot XRP ETF by late 2026 or early 2027. Speaking on a podcast, McClurg indicated that the world's largest asset manager is likely to make its move once certain market conditions are met, such as sustained demand and growing institutional interest. He emphasized that the delay is due to timing and market readiness rather than doubts about XRP itself. McClurg noted that BlackRock is facing increasing competition from firms like Franklin Templeton and Grayscale, which already offer XRP ETFs with significant inflows. Franklin Templeton's XRP ETF has attracted $299.54 million, while Canary Capital, Bitwise, and Grayscale have also launched similar products. As more traditional firms enter the crypto ETF space, pressure mounts on BlackRock to include XRP in its offerings. BlackRock's decision will depend on factors like market size and liquidity, according to McClurg. With XRP's market cap at $113 billion and regulatory clarity improving, the conditions for a BlackRock XRP ETF are becoming more favorable. McClurg believes that once these benchmarks are met, BlackRock's entry into the XRP ETF market is a matter of "when," not "if."